Top Ten Best Practices for Negotiating EPC Contracts
Judah Lifschitz and Daniel A. Kapner recently published an article entitled,Ten Best Practices for Negotiating EPC Contracts, in the October 2015 issue of Construction Executive magazine. Discussing engineering, procurement and construction (EPC) contract negotiations, the article examines ten steps a contracting party should consider in addition to early planning and due diligence.
- Control the document.
- Select the most appropriate contracting model.
- Establish a realistic budget.
- Establish an achievable schedule.
- Vet project teams.
- Define the scope and division of responsibilities.
- Identify technology risks/mitigation.
- Know the regulatory requirements and restrictions.
- Obtain financial, performance and security guarantees.
- Plan for the unexpected.
The entire article can be read on Construction Executive magazine, October 2015 issue. For more information, email Judah Lifschitz at firstname.lastname@example.org or Daniel Kapner at email@example.com.